Wilmington, Delaware, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Global Aftermarket Automotive Paints and Coating Market is estimated at a market size of US$ 18.5 billion in 2023 and is expected to grow at a significant CAGR of over 6.4% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Many car owners are interested in customizing or restoring old vehicles. Aftermarket automobile paints and coatings enable customization and repair projects that range from altering the color of the car to protecting and enhancing its appearance.
Customers frequently want their vehicles to appear new and appealing. Aftermarket paints and coatings provide solutions for improving vehicle appearance, whether through touch-ups or total repainting.
- According to a deep-dive market assessment by RationalStat, the global Aftermarket Automotive Paints and Coating market has been analyzed on the basis of market segments, including paint type, technology type, resin type, texture type, vehicle type and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Aftermarket Automotive Paints and Coating market covers market sizes on the basis of market value (US$/EUR Million) and volume (Liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Aftermarket Automotive Paints and Coating market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Aftermarket Automotive Paints and Coating Market: Segmental and Market Share Analysis
- On the basis of paint type, the electrocoat category dominates the market, as increased demand for superior gloss finish and appealing exterior looks on modern and expensive automobiles boosts demand for automotive clearcoats.
- On the basis of technology type, powder coating segment dominate the global aftermarket automotive paints and coating market owing to growth in demand for premium and ultra-premium cars.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 18.5 billion |
| Market Size Forecast | US$ 26.8 billion |
| Growth Rate | 6.4% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global aftermarket automotive paints and coating market include,
- In July 2022, AkzoNobel purchased Lankwitzer Lackfabrik's aluminium wheel liquid coatings business division to add to its current powder coatings product offering.
- In August 2022, In Latin America, Axalta introduced next-generation basecoat technology for the automotive refinish sector.
Some of the prominent players and suppliers operating and contributing significantly to the global aftermarket automotive paints and coating market growth include Akzo Nobel NV, Axalta Coating Systems, BASF SE, Cabot Corp, Clariant AG, Covestro, Donglai Coating Technology, Dupont, Eastman, and Kansai Paint Co. Ltd., among others.
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Market Segmentation: Global Aftermarket Automotive Paints and Coatings Market
RationalStat has segmented the global aftermarket automotive paints and coating market based on paint type, technology type, resin type, texture type, vehicle type, and region
- Global Aftermarket Automotive Paints and Coating Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Paint Type
- Electrocoat
- Primer
- Basecoat
- Clearcoat
- Global Aftermarket Automotive Paints and Coating Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Technology Type
- Solvent Borne
- Waterborne
- Powder Coating
- Global Aftermarket Automotive Paints and Coating Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Resin Type
- Polyurethane
- Epoxy
- Acrylic
- Others
- Global Aftermarket Automotive Paints and Coating Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Texture Type
- Solid
- Metallic
- Matte
- Pearlescent
- Solar Reflective
- Global Aftermarket Automotive Paints and Coating Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Global Aftermarket Automotive Paints and Coating Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Region
- North America Aftermarket Automotive Paints and Coating Market
- US
- Canada
- Latin America Aftermarket Automotive Paints and Coating Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Aftermarket Automotive Paints and Coating Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Aftermarket Automotive Paints and Coating Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Aftermarket Automotive Paints and Coating Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Aftermarket Automotive Paints and Coating Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Aftermarket Automotive Paints and Coating Market
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Key Questions Answered in the Aftermarket Automotive Paints and Coating Report:
- What will be the market value of the global aftermarket automotive paints and coating market by 2030?
- What is the market size of the global aftermarket automotive paints and coating market?
- What are the market drivers of the global aftermarket automotive paints and coating market?
- What are the key trends in the global aftermarket automotive paints and coating market?
- Which is the leading region in the global aftermarket automotive paints and coating market?
- What are the major companies operating in the global aftermarket automotive paints and coating market?
- What are the market shares by key segments in the global aftermarket automotive paints and coating market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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